Sec. 1004. Membership of Federal Open Market Committee
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/bill/115/hr/10/ih/section-1004A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 12A(a) of the Federal Reserve Act ( 12 U.S.C. 263(a) ) is amended— in the first sentence, by striking five and inserting six ; in the second sentence, by striking One by the board of directors and all that follows through the period at the end and inserting the following: One by the boards of directors of the Federal Reserve Banks of New York and Boston; one by the boards of directors of the Federal Reserve Banks of Philadelphia and Cleveland; one by the boards of directors of the Federal Reserve Banks of Richmond and Atlanta; one by the boards of directors of the Federal Reserve Banks of Chicago and St.
Louis; one by the boards of directors of the Federal Reserve Banks of Minneapolis and Kansas City; and one by the boards of directors of the Federal Reserve Banks of Dallas and San Francisco. ; and by inserting after the second sentence the following: In odd numbered calendar years, one representative shall be elected from each of the Federal Reserve Banks of Boston, Philadelphia, Richmond, Chicago, Minneapolis, and Dallas. In even-numbered calendar years, one representative shall be elected from each of the Federal Reserve Banks of New York, Cleveland, Atlanta, St.
Louis, Kansas City, and San Francisco. .
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Sec. 1004
Membership of Federal Open Market Committee
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